00:00the rest is history today they have over 2 000 different types of figurines and they've expanded
00:07into over 30 countries some of their most popular brands include molly lababoo and sun now you might
00:15be thinking that this story sounds pretty familiar it reminds you of another hugely popular brand
00:21funko and you'd be right in fact pop mart actually modeled their business after funko
00:28however unlike funko pop mart doesn't actually manufacture their own figures instead they focus
00:37on designing and selling them while the manufacturing is left up to other companies
00:42this allows them to stay lean and focus on what they do best marketing and sales so let's talk
00:49about their marketing strategy because it's brilliant every single pop mart figure has a
00:54mystery ticket on it this ticket can then be scanned to reveal a mystery box this box then
01:01gives you a mystery ticket for a game this game then gives you points based on how many boxes
01:07you collect the more points you earn the better prizes you can redeem this creates a sense of
01:14mystery and exclusivity around the figures because people want to scan them to see what kind of box
01:20they will get this also encourage repeat purchases because people want to keep trying to get the
01:26rarest boxes but the real genius of their marketing strategy is something called blind box basically every
01:34time you buy a figure you don't know which character you're going to get this creates a sense of excitement
01:40and surprise which makes the product more appealing it also encouraged people to buy multiple figures in order to
01:48complete their collection
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